ICICI Bank ADR Rep 2 Ord Shs IBN

ICICI Bank Canada cross an asset base of $1B

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Thanks a billion, Canada! - ICICI Bank Canada cross an asset base of $1 billion 4/12/2006 TORONTO, Apr 12, 2006 (Canada NewsWire via COMTEX News Network) -- ICICI Bank Canada, a schedule II chartered bank and member of CDIC, known for its "best-in-class" interest rates, today crossed the $1 billion mark in asset size within two years of its operation in Canada. ICICI Bank is proud to be the first Indian bank in Canada to reach this mark. "This is a significant and historical accomplishment for our Bank and all the employees in Canada and India who represent the force behind this achievement" said Mr. Hari Panday, President and CEO of ICICI Bank Canada. ICICI Bank Canada has positioned itself as a full-service direct bank. This unique positioning has enabled the Bank to acquire 62,000 satisfied retail customers in less than two years. Crediting his staff for this accomplishment, Mr. Panday believes that Canadians have accepted the ICICI Bank brand as an alternate to the big banks and other direct banks. Since inception, ICICI Bank Canada has consistently lead the full-service banks in Canada by offering one of the highest deposit rates and it has become known for its attractive and straightforward offerings to its loyal customers from coast-to-coast. Recently, the Bank announced an increase in its Personal Savings Account rate from 3.00% per annum to 3.50% per annum - with no minimum balance requirements, no account maintenance fees and no lock-in periods. In addition, the Bank is a key provider of cross-border banking services that includes money transfers and account services for the Indian diasporas in Canada. About ICICI Bank Canada: ICICI Bank Canada, a wholly-owned subsidiary of ICICI Bank Limited is a member of Canada Deposit Insurance Corporation (CDIC) and is a full-service direct bank offering a comprehensive suite of personal and commercial banking, trade finance and Non-resident Indian services. The Bank is supported by a state-of-the-art electronic banking platform (www.icicibank.ca), a 24-hour toll-free customer contact centre and proprietary ABMs. ICICI Bank Canada branches are located in the Greater Toronto Area: Toronto, Brampton, Scarborough and Gerrard Street East (Little India) and in Greater Vancouver Area: Downtown Vancouver. About ICICI Bank Limited: ICICI Bank Limited is India's second largest bank, and largest private sector bank, with an asset base of over $ 50 billion. ICICI Bank Limited serves a growing customer base of more than 14 million accounts through a multi-channel access network of over 550 branches and 2,200 ABMs, call centers and internet banking (www.icicibank.com). ICICI Bank Limited was awarded the "Best Bank in 2004" status in India by Business India - the Magazine of the Corporate World. ICICI Bank Limited has three wholly-owned subsidiaries: ICICI Bank UK Ltd., ICICI Bank Canada and Investitsiono-Kreditny Bank, Russia. The Bank has an Offshore Branch in Singapore and Bahrain, an Offshore Banking Unit at SEEPZ, Mumbai, a Branch in Sri Lanka and Hong Kong, and representative offices in Bahrain, Bangladesh, China, South Africa, United Arab Emirates and the United States of America. SOURCE: ICICI Bank Canada contact: ICICI Bank Canada - Ravi Balchandani, Senior Manager, Marketing and Public Affairs, [phone], [e-mail] Copyright (C) 2006 CNW Group. All rights reserved.